Full Year 2021 and Q4 Report highlights in my mind are the slight additional delay to the commissioning of Caucharí-Olaroz along with the 16% increase in CAPEX for this project. But, they are moving ahead relatively aggressively with the development of the Pastos Grandes project acquired from ML, with a team of 50 dedicated to it.

They provide a more realistic timeline for Thacker Pass, with the lawsuit expected to be settled in Q3. They are expecting the DFS to be completed in the same quarter, and will no doubt be released shortly after the lawsuit is settled (my assessment). They also identify significant increase in CAPEX for Thacker Pass due to both inflation and additional costs associated with increased scale (good) and processing changes (good if it results in better processes).

They mention the possibility of spinning off TP into its own company, which I assess is a done deal once they get the structure in place. I trust management on this one.

In the end not great news due to the additional expenses and slight delays, but nothing that fundamentally challenges the long term value. IMHO.

Lithium Americas Reports 2021 Full Year and Fourth Quarter Results